Why choose an external vendor for medical billing?

The decision to involve an external billing company requires thoughtful consideration as it is a personal decision based on the level of comfort you have with working with an outside entity and resulting loss of control. But an objective evaluation often reveals that an external billing will allow you to streamline and simplify your practice management, while increasing your overall revenue. As reimbursement levels continue to get reduced, the process ever more complicated, the provider workload significantly higher, the decision to hand off these administrative tasks could be ideal decision for you and the practice.

Dedicated Expertise
In clinics, back office roles and responsibilities are frequently not clearly defined. Often the billing person helps the receptionist or the Medical Records person is also doing the billing, splitting her time between the two roles. In addition, following up on claims is a tedious process, and it takes specialized people to do the job well. A billing company has employees who only do billing and who are experts at what they do. Using a billing company means that your revenue collection gets the time, attention, and expertise that it should.

Management Focus
A billing service reduces your day-to-day aggravations in managing your practice and collecting your revenue. By letting a professional billing service manage this area of your practice, you will have more time to devote to your core focus, which is patient care.

Security Advantages
A billing service increases your security by providing a system of independent checks and balances. By using a billing company with a well-established Quality Control process, you can add a layer of protection against errors and abuses.

Technology Advances
As healthcare continues to rapidly evolve, older Practice Management systems quickly become outdated. Procuring the latest Practice Management software is an expensive investment, and most of them charge an ongoing annual maintenance fee. If you are considering purchasing/updating your system, this may be an opportune time to consider outsourcing your medical billing services.

Human Resources
By outsourcing your billing, you can reduce your HR issues - no turnover issues, Workers' Compensation Insurance, Payroll taxes or Benefits to worry about. In addition, a billing agency absorbs the loss of productivity due to sick leave and vacation for its billing technicians, meaning you don’t have to.

What should you consider Iris specifically for your billing?